Erste Bank Group Chooses SimCorp Dimension

17 August 2007

With over 16 million clients and one of the largest financial services group in Central and Eastern Europe (CEE), Erste Bank Group has chosen SimCorp Dimension as its strategic platform for investment management. This includes the management of assets for its fund management company Erste-Sparinvest and for use in fund administration carried out by its depositary bank.

This new order is in addition to the SimCorp Dimension system that is already in use in the bank’s insurance arm, s Versicherung. Based in Vienna, the insurance subsidiary licensed the SimCorp Dimension system a year ago to provide seamless processing for its asset management operational activities.

At Erste-Sparinvest the software will be used enterprise-wide, from front to back office, to manage both mutual and institutional funds.

“SimCorp Dimension will become our software platform for depositary banking and asset management,“ explains Mag. Heinz Bednar, CEO of Erste-Sparinvest. “This decision was made after we had conducted a thorough review of the market and had observed the system in use in other customer sites.”

“We are delighted that the Erste Bank Group is our first Austrian customer in depositary banking as well as in the fund management area,” says Dr. Jochen Müller, managing director of SimCorp GmbH. “The flexibility of SimCorp Dimension will enable the Group to use the system across the various countries that the bank is in operation as well as supporting all its different areas of asset management.“

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